Is Ooltewah / Summit, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Ooltewah / Summit has remained a Seller's Market.
Housing Prices in Ooltewah / Summit, TN
How much do homes in Ooltewah / Summit, TN cost?
Median Sold Price
$448,802
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Ooltewah / Summit was $448,802 in April 2024, up 7% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $139.9K | N/A |
2 Bedrooms | $275K | $300K | +9.1% |
3 Bedrooms | $370K | $380K | +2.7% |
4 Bedrooms | $460K | $485K | +5.4% |
5+ Bedrooms | $637K | $670K | +5.2% |
Summary: Ooltewah / Summit housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Neighborhoods
Ooltewah / Summit | $419.6K | $448.8K | +7.0% |
Apison | $508K | $540K | +6.3% |
Harrison | $298K | $309.9K | +4.0% |
Harrison Bay | $490K | $440K | -10.2% |
Housing Supply in Ooltewah / Summit, TN
How many homes are available in Ooltewah / Summit, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
141 | 169 | +19.9% |
Summary: The Ooltewah / Summit real estate market had 169 homes for sale in April 2024, a 19.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 58 | 68 | +17.2% |
4 Bedrooms | 57 | 70 | +22.8% |
5+ Bedrooms | 20 | 27 | +35.0% |
Summary: The Ooltewah / Summit housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 35%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
37 | 30 | -18.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Ooltewah / Summit in April 2024, down by 18.9% month-over-month. Of the 30 sold homes, 33% were sold under asking, 47% were sold at asking, and 20% were sold over asking.
Days on Market for Ooltewah / Summit, TN
How long does it take to sell a home in Ooltewah / Summit, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 56 Days | +351.6% |
Summary: Homes in Ooltewah / Summit had an average of 56 days on market in Apr 2024, up by 351.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 30 homes were sold in Ooltewah / Summit; 10% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.